South African Airways could well be in a dismal financial state because of its management's "shocking" lack of control and concern.
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SAA's "shocking" lack of control and concern
By IAG | May 11th, 2007 | Posted in american express, SAA, south africa | No CommentsSAA needs more money – again
By IAG | January 31st, 2007 | Posted in SAA, south africa | No CommentsTalks are underway with the South African Treasury to secure state support for the further recapitalization of struggling national airline South African Airways (SAA), which had experienced another "very tough" financial year, Public Enterprises Minister Alec Erwin told Parliament yesterday. If the treasury agrees to use of state funds for a recapitalization, it would be the second capital injection received by SAA in three years. The first was the R6bn injected by state transportation company and SAA owner Transnet into the organization early in 2004 to clear its hedge book losses.
SAA CEO Khaya Ngqula said late last year that SAA needed about R4bn. The state must now figure out to deal with maintaining jobs at SAA or allowing the airline to find money elsewhere. Since the latter is not happening, the state has to cough up. When will state's realize they have no business owning airlines? The days of having these companies to find jobs for pals is out of date. Even the Italians and Greeks are getting it. What do you think SAA will do with new capital? Buy more planes of course.
SAA needs more money – again
By IAG | January 31st, 2007 | Posted in SAA, south africa | No CommentsTalks are underway with the South African Treasury to secure state support for the further recapitalization of struggling national airline South African Airways (SAA), which had experienced another "very tough" financial year, Public Enterprises Minister Alec Erwin told Parliament yesterday. If the treasury agrees to use of state funds for a recapitalization, it would be the second capital injection received by SAA in three years. The first was the R6bn injected by state transportation company and SAA owner Transnet into the organization early in 2004 to clear its hedge book losses.
SAA CEO Khaya Ngqula said late last year that SAA needed about R4bn. The state must now figure out to deal with maintaining jobs at SAA or allowing the airline to find money elsewhere. Since the latter is not happening, the state has to cough up. When will state's realize they have no business owning airlines? The days of having these companies to find jobs for pals is out of date. Even the Italians and Greeks are getting it. What do you think SAA will do with new capital? Buy more planes of course.
